Reinsurance News

Generali

Generali Romania partners with Intermap for flood risk assessment solution

5th September 2022

Intermap Technologies has announced Generali Romania is expanding its risk assessment capabilities by incorporating Intermap's Aquarius RMA (Aquarius) cloud-based flood risk solution into its core insurance processes. The Aquarius software solution is composed of multiple analytics and geocoding capabilities which will provide Generali Romania with a comprehensive picture of the possible ... Read the full article

Generali acquires AXA Malaysia joint ventures

2nd September 2022

Italy-headquartered insurer Generali has acquired Axa’s Malaysian operations, in line with Generali strategy to strengthen its leadership position in high potential markets. At the same time AXA also announced the completion of the sale to Generali. In the announcement, AXA revealed it sold 49.99% of its shareholding in AXA Affin General ... Read the full article

AM Best assigns positive credit ratings to Generali Hong Kong

24th August 2022

Ratings agency, AM Best has assigned Generali Hong Kong a Financial Strength Rating of “A” (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent). The outlook assigned to these ratings is stable. The ratings reflect Generali Hong Kong’s inclusion as a member of the lead rating unit of Assicurazioni Generali S.p.A. ... Read the full article

Moody’s assesses Italian insurers after downgrading government outlook

11th August 2022

Following Moody’s change in outlook on the government of Italy (Baa3) to negative from stable, the agency has taken a number of rating actions on three Italian insurers and related subsidiaries. Generali’s A3 insurance financial strength rating (IFSR) was affirmed with a stable outlook; and a similar action was taken on ... Read the full article

Generali result slips 9% on Russian investments

2nd August 2022

Italy-headquartered insurer Generali has posted a net result of €1,402 million during the second quarter of 2022, down 9.0% from the same period last year due to its Russian investments. The company reported that impairments on Russian investments totaled €138 million as the war in Ukraine continue to negatively affect financial ... Read the full article

AXA tops list of largest EU insurers ranked by GPW

1st August 2022

When ranked by gross premiums written (GPW) in 2020, AXA tops the list of the largest European insurance companies with USD 115.3 billion. The insurer also recorded USD 80 billion of capital & surplus from 2020. Based on research data from ratings agency AM Best, our directory ... Read the full article

Generali GC&C partners with Previsico on flood resilience

19th July 2022

Generali Global Corporate & Commercial (GC&C) has partnered with Previsico, a live flood alert insurtech company to “significantly” enhance UK clients’ flood emergency response readiness. Generali GC&C aims to broaden its own insurance coverage capabilities using Previsico’s technical expertise and warning solutions which provide live, actionable surface water flood warnings not ... Read the full article

Generali completes acquisition of La Médicale from Crédit Agricole Assurances

5th July 2022

Italian insurer Generali has completed its acquisition of La Médicale, the insurance subsidiary for healthcare professionals Crédit Agricole Assurances. As well as this, Generali has also completed the purchase of Predica’s death coverage portfolio, which is marketed and managed by La Médicale. following all necessary approvals from the relevant regulatory and ... Read the full article

Generali’s Europ Assistance buys nearly 75% of Gulf Assist

1st July 2022

Generali subsidiary Europ Assistance has bought a nearly three-quarter stake in Gulf Assist. In a statement, Europ Assistance said it had bought 74.6% of the firm from MAPFRE Asistencia. Gulf Assist also owns Arab Assist WLL in Jordan and has a commercial branch in Dubai. Enrique Ballesteros, previously general manager of Gulf ... Read the full article

Generali closes third green bond

30th June 2022

Italian insurer Generali has placed a €500mn Tier 2 bond due July 2032 under its new Sustainability Bond Framework. This marks Generali's third placement of a sustainability bond following two green bond deals in recent years; the first one was placed in June 2021. An amount corresponding to the net proceeds ... Read the full article

Caltagirone has left Assicurazioni Generali

30th May 2022

Assicurazioni Generali has said that non-independent director Francesco Gaetano Caltagirone has resigned from the Board with immediate effect for undisclosed reasons. It also said that Caltagirone, directly or through companies related to him, holds a stake of the share capital of Assicurazioni Generali S.p.A. equal to 9.95% and that the board ... Read the full article

Generali’s GC&C names Matthias Arnold new Head of Underwriting, Germany

24th May 2022

Generali’s property & casualty (P&C) unit – Global Corporate & Commercial (GC&C) has announced the appointment of Matthias Arnold as the new Head of Underwriting in Germany. Arnold’s appointment is effective as of July 1st, 2022. Within his new role, Arnold will further intensify the tactical development of GC&C Germany's portfolio, as ... Read the full article

Generali sees GWPs up 6.1% in Q1 2022

19th May 2022

Generali is reporting that its gross written premiums in Q1 2022 to €22.3bn, or 6.1%. However, the firm said that its net result was down to €727m in the quarter, down from €802m in the preceding year’s same quarter. This, it said, had been impacted by impairments on its Russian investments ... Read the full article

Generali makes three appointments in Italy

13th May 2022

Generali Country Italy and Global Business Lines has announced that Giulia Raffo, Manlio Lostuzzi, and Ludovic Bayard have been appointed to new roles. The firm said that Raffo was to be its new CFO, Lostuzzi was to take on the role of head of Generali Global Business Lines insurance technical coordination, ... Read the full article

Generali acquires stakes in Indian P&C joint venture

9th May 2022

Italian insurer Generali has announced that it has finished acquiring 25% of the shares of P&C business, Future General India Insurance (FGII), following regulatory approval. Following the acquisition, the firm will now hold a stake of around 74% in FGII. The deal was originally signalled in January, alongside an acquisition of 16% ... Read the full article